The consulting team is always available for phone calls and emails regarding a regulation question about anything connected to credit unions. Almost every time, the consultant will not only give you the answer, but show you where you can find it for future reference. The is the same for any NCUA, DFI, or CFPB rule that is live or pending. The group also keeps you aware of any changes that will be happening in the future.
The consulting team can review current policies for compliance and completeness. The group can also review credit union programs to see if there is a need for any new policies. There are assorted programs the consultants offer depending on how much depth the credit union wants to team to do.
The consulting team can teach or review all parts of lending in a one-on-one setting or in a group. Everything from filling out the application correctly, to processing it accurately, to making the best decision, and then closing it the correct way can be taught or reviewed. There is a "new loan officer" training class that includes not only the above, but also goes through the lending regulations. There is also fair lending training, loan review sessions, and product knowledge training. There is also cross-sell/sales training pertaining to lending that is also provided. This includes consumer loans, mortgages, and other unique lending products. The department also does regional seminars and a yearly league seminar.
There are several different programs that are offered in this area. New collector training is the most popular. There are different levels of training which include the daily processes, bankruptcies, repos, and all the regulations that have to be followed. The strongest program actually gets into different styles of collecting and skip tracing. There are also regional meetings, at least one centralized meeting a year, and an email group that works together throughout the year.
The department can lead or help with the credit union's strategic planning session. Several different types of these programs are offered, depending on how much involvement you want to the league to have. The most popular program has a book for each participant filled with general and credit unions specific information. The league can lead the group during the planning session and report back to management afterward to finalize the strategic plans and action items.
Regulatory Exam Assistance
Information is given out throughout the year on what the "hot buttons" are for both the NCUA and the DFI exams. The league also has up to date information on any new rules that these two and the CFPB bring on throughout the year. The league meets with the NCUA and DFI at least once during the year, which helps gain this knowledge. The league can also help after the exam to help fix any findings.
Chartering & Field of Membership (FOM) Assistance
The department can help start up a new credit union or help change the charter of an existing one. Years of experience in this helps quicken the process. Another program the league can perform is finding new fields of membership that can be approved by NCUA or DFI.
Vendor Management and Third Party Due Diligence
The league offers two different programs to help with vendor management and due diligence. The league partners with Affirmx to provide a detailed and structured view of every vendor through questionnaires and interviews. This is then risk-based and a report is given out. The league can also perform a smaller version of this, prioritizing the vendors based on risk and importance to the credit union. The smaller version works with management to set up the project and for the credit union to complete.
The league offers several opportunities and programs that help nearly every function of the credit union. There are yearly seminars on lending, collections, operations, regulatory compliance, marketing, IRAs, IT, and many others There is a webinar network that can be reviewed at the credit union. There are nearly 100 of these and they can be archived and kept forever. There are at least three regional meetings a year about different credit union programs and all types of training at the assorted conferences held throughout the year.
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Deposit Account Documentation & Maintenance
The consulting team has a program which reviews the policies, procedures, and actions of the credit union employees in regard to doing transactions on accounts. Several regulations are reviewed during this program including Regulation CC, E, and others. After reviewing the current status of the these transactions, a report and/or written review with action items is made so that the credit union can be in full compliance.
The league can work with the credit union to make sure they are abiding by the regulations and policies set forth regarding business continuity and succession planning. Other related policies and procedures like pandemic, fire, and information recovery can also be part of this program.
Usually one of the biggest topics that the consultants work on, the team can answer any retention period question either by phone or by email. They can go through your whole credit union, look at your procedures, and will even provide an updated chart to help you with this function.
The league can review the credit union website for any major regulations and problems and teams up with Affirmx which provides even a deeper review of content including ADA compliance.